Editing Option style (section)

===Canary option===
* A '''Canary option''' is an option whose exercise style lies somewhere between European options and Bermudian options. (The name refers to the relative geography of the [[Canary Islands]].) Typically, the holder can exercise the option at quarterly dates, but not before a set time period (typically one year) has elapsed. The ability to exercise the option ends prior to the maturity date of the product. The term was coined by Keith Kline, who at the time was an agency fixed income trader at the Bank of New York.